PolyOne Corporation reported $1 billion in revenue for the first quarter of 2014, a 25% increase compared to $801 million in the first quarter of 2013.
PolyOne Corporation reported $1 billion in revenue for the first quarter of 2014, a 25% increase compared to $801 million in the first quarter of #
Highlights:
-First quarter revenue reached an all-time high of $1 billion, and increased 25% over the first quarter of 2013, driven by organic growth and the addition of Spartech
-Adjusted earnings per share increased 42% to $0.44, marking the 18th consecutive quarter of double-digit adjusted earnings per share growth; GAAP EPS totaled $0.31 versus $0.16 in the prior year quarter, a 94% increase
-Specialty platform delivered record-setting growth driven by continued mix improvement and synergies from the Spartech acquisition
PolyOne Corporation reported $1 billion in revenue for the first quarter of 2014, a 25% increase compared to $801 million in the first quarter of #
Earnings per share totaled $0.31 in the first quarter of 2014, versus $0.16 in the prior year quarter. Adjusted earnings per share were $0.44 for the first quarter of 2014, compared to $0.31 in the first quarter of 2013, a 42% increase.
PolyOne Corporation reported $1 billion in revenue for the first quarter of 2014, a 25% increase compared to $801 million in the first quarter of #
"I am extremely pleased to report another record-setting quarter for PolyOne," said Stephen D. Newlin, Chairman, President and Chief Executive Officer. "Our Specialty platform led the way as Global Color Additives and Inks and Global Specialty Engineered Materials delivered milestone levels of operating income and profitability, and we continue to drive synergies from the Spartech acquisition. In addition, our Distribution platform achieved record sales and operating income for the quarter."
PolyOne Corporation reported $1 billion in revenue for the first quarter of 2014, a 25% increase compared to $801 million in the first quarter of #
Mr. Newlin continued, "Our core values of collaboration, innovation and excellence are woven into the fabric of PolyOne. Our commitment to these values, underpinned by the execution of our four-pillar strategy, has led to 18 consecutive quarters of strong, double-digit adjusted earnings per share growth. Our innovation pipeline remains robust with unique, differentiated solutions for high-growth end markets, like healthcare, transportation, consumer and packaging, which are poised to drive our growth far into the future."
PolyOne Corporation reported $1 billion in revenue for the first quarter of 2014, a 25% increase compared to $801 million in the first quarter of #
Commenting on the first quarter results, Robert M. Patterson, Executive Vice President and Chief Operating Officer said, "Our first quarter performance highlights accelerating momentum driven by Specialty platform growth and impressive year-over-year gains from Performance Products and Solutions and Distribution as well. This momentum fortifies our confidence to continue to meet or exceed our aggressive goals for margin expansion and EPS growth."
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